Telecom Corridor to get an addition

08/23/2011
Stream planning big new data center buildling 
 
By Steve Brown
Real Estate Editor, Dallas Morning News
 
Stream Data Centers - which just sold its new Richardson data center building - is about to break ground for an even larger project in the Telecom Corridor.
 
The Dallas-based commercial real estate firm will build the 72,000-square-foot data center near State Highway 190 in Richardson.
 
"We had some strong success with our first project in Richardson last year," said Robert Kennedy, co-managing director of Stream Data Centers. "We leased that first building in about three months after completing it.
 
"This facility will be three times the size of that," Kennedy said Tuesday. "We really like the D-FW market in general because it's home for about 25 Fortune 500 companies and regional headquarters for many other companies."
 
In July, Stream sold its 20,000-square-foot Richardson data center to real estate investor Carter Validus Mission Critical REIT, which paid about $29 million. The project on Essex Drive was build in 2010 and is leased to a national health care firm.
 
Last month, Stream sold its 150,000-square-foot San Antonio data center to Chevron USA Inc., according to press reports.
 
The developer still owns land there to construct another such facility.
 
"We have plans to build a project similar to the one in Richardson, and we have plans for Houston, too, but that's a little further out," Kennedy said. "We are bullish about data center space, and we feel good about the demand side of it."
 
Stream's new Richardson data center will open in May at the northeast corner of Renner Road and Wyndham Lane. 
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